The King of Bling Goes Down Hard

June 24, 2008

The infamous New York diamond merchant Jacob "The Jeweler" Arabov was sentenced today to two and a half years in federal prison for lying to investigators about his part in a multistate drug ring. Jacob is known for outfitting countless rappers, NBA players and even onetime Republican presidential candidate Rudy Giuliani with his icy stones.

Arabov pleaded guilty in October to falsifying records and giving false statements, as part of a deal with federal prosecutors, was given seven months off his potential three-year-plus sentence for his extensive charity work. "I feel ashamed that I broke the laws of this country, a country that has been so good for me," read a statement from Arabov, a 43-year-old Russian immigrant. "I will carry this shame for the rest of my life." Ouch.